More than a year after it closed its doors, the Philips Hotel in downtown Philipsburg remains shuttered, despite efforts to sell the historic building.
Owner Faith Lucchesi, a State College attorney, said Wednesday she is negotiating a potential sale. She couldn’t say how far along talks are or provide a time frame for when a sale might occur.
Lucchesi was part of an ownership group that purchased the building in January 2008 for $200,000.
They expressed an intention to return the one-time hotel to its former grandeur by renovating the ballroom and lobby and opening a fine-dining restaurant.
The building had housed a retirement home for decades before the business relocated in 2006.
In what was hoped to be a key piece of a downtown revitalization, the group spent more than $2 million on renovations. They were reimbursed $1 million by a state grant earmarked for the redevelopment of downtown Philipsburg after a 2005 fire destroyed three buildings and left a void in the town.
But the building closed less than two years later, raising questions about whether all the grant money was spent.
Lucchesi previously said the grant reimbursed owners for money they invested bringing the building up to code and improving its infrastructure, something she said makes the building more viable moving forward.
The property originally was listed on Re/Max Centre Realty for $1.7 million, but no longer appears on the realty website.
Lucchesi said Wednesday that she could not comment further because of the pending negotiations.
Matt Carroll can be reached at 231-4631. Follow him on Twitter @Carrollreporter.